Your Cybersecurity news & updates
April 13, 2016
Don’t let embarrassment about a data breach cost you even more
Cyberthieves prey on human nature for even more profit. Company executives are reluctant to admit data breaches mainly for a simple embarrassment:  in spite of knowing no security system is perfect, they promised to keep customers’ sensitive data safe. This non-disclosure becomes a two way threat and win-win situation for bad guys.
  • You hide the breach, and they can threaten to disclose it.
  • They wait to see if you report, if you opt not to report, then their disclosure exposes you to civil penalties.
  • Once they get money from the breach, they still sell the data and get more money, and they don’t have to worry about evading law enforcement.
FBI: $2.3 Billion Lost to CEO Email Scams
The FBI this week warned about a “dramatic” increase in so-called “CEO fraud,” e-mail scams in which the attacker spoofs a message from the boss and tricks someone at the organization into wiring funds to the fraudsters. 

The FBI estimates these scams have cost organizations more than $2.3 billion in losses over the past three years.

  • It has seen a 270% increase in identified victims and exposed losses from CEO scams.
  • Law enforcement globally has received complaints from victims in every U.S. state, and in at least 79 countries.
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